NextNav (NASDAQ:NN) Trading Down 5.7% – Time to Sell?

NextNav Inc. (NASDAQ:NN) was down 5.7% on Wednesday . The stock traded as low as $13.00 and last traded at $12.68. Approximately 124,891 shares traded hands during trading, a decline of 87% from the average daily volume of 994,881 shares. The stock had previously closed at $13.44.

NextNav Stock Down 5.2 %

The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $11.79 and a 200-day simple moving average of $12.19. The firm has a market cap of $1.67 billion, a P/E ratio of -16.99 and a beta of 1.17.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). The company had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.73 million. NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. On average, equities analysts anticipate that NextNav Inc. will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.23, for a total transaction of $706,007.64. Following the sale, the chief executive officer now owns 1,550,358 shares of the company’s stock, valued at approximately $17,410,520.34. This trade represents a 3.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christian D. Gates sold 5,730 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the completion of the transaction, the chief financial officer now directly owns 857,206 shares in the company, valued at approximately $9,634,995.44. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock worth $816,495 over the last three months. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of NextNav

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fleming James B JR bought a new stake in NextNav in the 4th quarter worth approximately $80,618,000. Susquehanna Advisors Group Inc. bought a new stake in NextNav in the fourth quarter worth $67,648,000. Vanguard Group Inc. increased its holdings in shares of NextNav by 23.3% in the 4th quarter. Vanguard Group Inc. now owns 4,017,060 shares of the company’s stock worth $62,505,000 after buying an additional 759,775 shares during the last quarter. Invesco Ltd. raised its position in shares of NextNav by 2,461.2% during the 4th quarter. Invesco Ltd. now owns 712,385 shares of the company’s stock valued at $11,085,000 after buying an additional 684,571 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of NextNav by 466.5% in the 4th quarter. Voloridge Investment Management LLC now owns 657,996 shares of the company’s stock valued at $10,238,000 after acquiring an additional 541,842 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.